Meals Deduction Changes for 2026 Might Require Employer Action
Changes to the meals deduction that became effective January 1, 2026, might require taxpayers to immediately begin identifying and tracking a separate category of meal costs. The changes are effective…
Mid-Year Financial Checkup Checklist: Is Your Business on Track?
Hard to believe, but we are almost halfway through 2026. While many business owners are focused on day-to-day operations, growth opportunities, and managing economic uncertainty, mid-year is also an ideal…
Builders of energy efficient homes may qualify for a valuable tax credit
Eligible contractors who build new energy efficient homes or substantially reconstruct existing homes into qualified energy efficient homes may be eligible for a tax credit up to $5,000 per home….
What Higher Education Institutions Need to Know About Tuition Discounting
By David Clark, CIA, CFE, CRMA, BDO USA Universities and colleges in the U.S. are facing a challenging paradox. Over the past 20 years, tuition rates have increased a staggering…
Education Credits
With school back in session, parents and students should look into tax credits that can help with the cost of higher education. Credits reduce the amount of tax someone owes…
New law extends COVID tax credit for employers who keep workers on payroll
The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to…
How the CARES Act changes deducting charitable contributions
Whether you are supporting natural disaster recovery, COVID-19 pandemic aid or another cause that’s personally meaningful to you, your charitable donations may be tax deductible. These deductions basically reduce the…
Here’s who qualifies for the employee business expense deduction
Employee business expenses can be deducted as an adjustment to income only for specific employment categories and eligible educators, according to the IRS. Taxpayers can no longer claim unreimbursed employee…
SBA ROLLS OUT “LOAN NECESSITY QUESTIONNAIRE” FOR BORROWERS WITH PPP LOANS OVER $2M AND STARTS AUDIT REVIEW PROCESS
Earlier in the year, the Small Business Administration (SBA) announced in an updated FAQ on the program that it will be auditing all Paycheck Protection Program (PPP) loans of $2 million or more. Borrowers…
Questions about PPP Expense Deductions?
One of the most disappointing developments in the Paycheck Protection Program loan guidance was related to the non-deductibility of the expenses paid for by the forgiven loans. Many organizations, including…